We Chat has a massive scale, with over 468 million monthly active global users and 25 percent of users checking We Chat over 30 times a day.
Last year, users spent US.3 billion on mobile data using We Chat.
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We Chat allows foreign investors to interact with their consumers in a way that has not reached the same scale in the Western world.
In the world of mobile commerce, all eyes are on China.
Even as China’s economy and overall retail sales growth drops, business-to-consumer (B2C) online sales are growing by 25 percent each year.
China has the world’s largest digital marketplace, and it is predicted to grow three times faster than overall retail.
The industry is primed for growth not only in the first-tier cities, but also in the third-tier and lower cities with an estimated half of total online sales coming from the lower tier cities by 2018.
When considering the mobile commerce industry in China, one name stands out.Tencent’s We Chat has long been impacting the lives of Chinese consumers, and with its move to digital payment systems it now has the ability to revolutionize the mobile commerce industry in China.As the fastest growing social media platform in the world, and the primary source of interaction between brands and Chinese consumers, foreign investors looking to be successful in China should take note.Chinese consumers actively embrace mobile commerce due to its easy to use, cost-effective payment and delivery system.Data gathered from i Research in a March 2015 report states that China’s gross merchandise volume (GMV) of the mobile shopping market reached 929.71 billion RMB in 2014, increasing by 239.3 percent from the previous year.The growth was significantly larger than that of the overall GMV of the online shopping market.